Readers ask: Which Of The Following Statements Regarding A Life Insurance Policy Dividend Is True?

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Which of the following statements concerning dividends are true except?

Life and health

Question Answer
The waiver of cost of insurance rider is found in what type of policy? Universal life
All of the following statements concerning dividends are true EXCEPT Dividend amounts are guaranteed in the policy

176 

Which of the following is stated in the consideration clause of a life insurance policy?

Which of the following is stated in the consideration clause of a life insurance policy? The consideration clause specifies the amount and frequency of premium payments that the policyowner must make to keep the insurance in force.

Which of the following are not considered to be basic types of insurance?

Legal Responsibility is not considered as the component of auto insurance because auto insurance only consists of collision, bodily injury, medical payment or personal injury protection and property damage liability. Therefore option (d) is correct.

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Which statement best describes the purpose of insurance?

Which best describes the purpose of insurance for the insured? A way to manage risk that occurs as part of daily life.

What are the two components of a universal policy?

How Does Universal Life Insurance Work? Universal policy premiums include two components: the cost of insurance amount and the savings component amount, also known as the cash value.

Which of the following is the best reason to purchase life insurance rather than annuities?

Based on those very simplistic explanations, the best reason for purchasing life insurance rather than annuities would be to provide for your loved ones if you do not have much saved up. With life insurance, you gain an instant legacy. After that first premium is paid, should you die, your heirs have an instant estate.

What is the consideration clause in life insurance?

The consideration clause spells out exactly how much premium payments are and when they are due. The legal consideration for a life policy consists of the application and payment of the initial premium. It may also list the effective date.

Where are policy benefits found?

Policy benefits can be found in the policy brochure or the policy wordings. The policy brochure will have all the benefits listed in short and the policy wordings will 13 answers · 0 votes: A broad description of the benefits is found in the section that is generically called the (8)

What is the insuring clause?

In insurance: Liability insurance. One is the insuring clause, in which the insurer agrees to pay on behalf of the insured all sums that the insured shall become legally obligated to pay as damages because of bodily injury, sickness or disease, wrongful death, or injury to another person’s property.

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What are the 7 types of insurance?

7 Types of Insurance

  • Life Insurance or Personal Insurance.
  • Property Insurance.
  • Marine Insurance.
  • Fire Insurance.
  • Liability Insurance.
  • Guarantee Insurance.
  • Social Insurance.

What are the 3 main types of insurance?

Then we examine in greater detail the three most important types of insurance: property, liability, and life.

What are the 4 types of insurance?

Different types of general insurance include motor insurance, health insurance, travel insurance, and home insurance.

What are the 5 parts of an insurance policy?

Every insurance policy has five parts: declarations, insuring agreements, definitions, exclusions and conditions.

What is insurance policy in simple words?

Insurance is a term in law and economics. It is something people buy to protect themselves from losing money. In exchange for this, if something bad happens to the person or thing that is insured, the company that sold the insurance will pay the money back.

Why the insurance is important?

Buying insurance is important as it ensures that you are financially secure to face any type of problem in life, and this is why insurance is a very important part of financial planning. A general insurance company offers insurance policies to secure health, travel, motor vehicle, and home.

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